Navitas Semiconductor (NASDAQ:NVTS) Trading Up 1.7% – What’s Next?

Navitas Semiconductor Corporation (NASDAQ:NVTS) shares shot up 1.7% on Tuesday . The company traded as high as $13.73 and last traded at $13.09. Approximately 9,962,024 shares changed hands during trading, a decline of 64% from the average session volume of 27,738,516 shares. The stock had previously closed at $12.87.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on NVTS. Morgan Stanley restated an “underweight” rating and issued a $13.70 price target on shares of Navitas Semiconductor in a research note on Wednesday, May 6th. Weiss Ratings raised Navitas Semiconductor from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, June 17th. Robert W. Baird raised their target price on Navitas Semiconductor from $9.00 to $20.00 and gave the stock an “outperform” rating in a research report on Monday, May 4th. Needham & Company LLC boosted their price target on Navitas Semiconductor from $13.00 to $21.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Finally, Rosenblatt Securities upped their price target on shares of Navitas Semiconductor from $7.00 to $13.00 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. Two research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $14.74.

Navitas Semiconductor Stock Down 6.6%

The stock has a market capitalization of $2.90 billion, a PE ratio of -19.54 and a beta of 3.82. The stock’s 50 day moving average price is $21.15 and its 200-day moving average price is $13.97.

Navitas Semiconductor (NASDAQ:NVTS) last released its earnings results on Tuesday, May 5th. The company reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.01. Navitas Semiconductor had a negative net margin of 330.67% and a negative return on equity of 14.30%. The company had revenue of $8.60 million for the quarter, compared to analysts’ expectations of $8.22 million. During the same quarter in the previous year, the company earned ($0.06) EPS. Navitas Semiconductor’s revenue for the quarter was down 38.7% on a year-over-year basis. On average, analysts forecast that Navitas Semiconductor Corporation will post -0.39 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Gary Kent Wunderlich, Jr. sold 73,000 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $28.11, for a total value of $2,052,030.00. Following the transaction, the director directly owned 13,964 shares of the company’s stock, valued at approximately $392,528.04. The trade was a 83.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Chris Allexandre sold 13,323 shares of the company’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $31.81, for a total value of $423,804.63. Following the completion of the transaction, the chief executive officer owned 1,072,633 shares of the company’s stock, valued at $34,120,455.73. The trade was a 1.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 3,989,478 shares of company stock valued at $116,356,387 over the last three months. Insiders own 12.40% of the company’s stock.

Hedge Funds Weigh In On Navitas Semiconductor

Several hedge funds have recently modified their holdings of NVTS. DNB Asset Management AS purchased a new stake in shares of Navitas Semiconductor during the 4th quarter valued at about $774,000. UBS Group AG grew its position in Navitas Semiconductor by 131.0% in the fourth quarter. UBS Group AG now owns 3,307,036 shares of the company’s stock worth $23,612,000 after acquiring an additional 1,875,228 shares in the last quarter. Newbridge Financial Services Group Inc. increased its stake in Navitas Semiconductor by 1,425.5% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 132,874 shares of the company’s stock worth $949,000 after acquiring an additional 124,164 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Navitas Semiconductor during the fourth quarter worth approximately $484,000. Finally, Integrity Alliance LLC. purchased a new stake in Navitas Semiconductor during the fourth quarter valued at approximately $280,000. Hedge funds and other institutional investors own 46.14% of the company’s stock.

About Navitas Semiconductor

Navitas Semiconductor is a fabless semiconductor company specialized in gallium nitride (GaN) power integrated circuits. The company’s core mission centers on delivering high-efficiency, high-power-density power solutions that address the needs of modern electronic devices, ranging from fast chargers for consumer electronics to industrial and automotive power systems.

Navitas offers a portfolio of GaNFast power ICs designed to replace traditional silicon-based power components. These products integrate GaN transistors, drivers and protection features into single-chip solutions, enabling faster charging, reduced energy loss and smaller power supply footprints.